The United Nations Climate Change Conference held in Copenhagen ended on Saturday, 19 December 2009. The main outcome of the conference was a political agreement – known as the Copenhagen Accord – to cap the global temperature rise by committing to significant emission reductions and to raise funds to help the developing world address climate change.

The Copenhagen
Accord:

recognises
the objective to keep the maximum global average temperature rise below 2°C and
the need for a review in 2015 to consider a possible goal of a maximum
temperature rise of 1.5°C using new scientific insights;

calls
for listing economy-wide emission reduction targets for developed countries and
mitigation action by developing countries by 31 January 2010;

recognises
the need for enhanced action on adaptation to reduce vulnerability and building
resilience in developing countries, especially least developed countries, small
island developing states and Africa;

outlines
the main elements of developed countries' commitments for new and additional funding
for both adaptation and mitigation in developing countries, including a Fast
Start programme (US$ 30 billion) for 2010–2012 and long-term finance (US$ 100
billion annually by 2020). This funding will come from a wide variety of
sources, public and private, bilateral and multilateral;

stresses
the importance of establishing robust monitoring, reporting and verification;

highlights
the need for setting up immediately mechanisms for reducing emissions from
deforestation and forest degradation and other land use changes;

recognises
the need to step up action on the development and transfer of technology.

The challenge will now be
to turn this political agreement into an effective and legally binding agreement
by COP16 in Mexico